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PUBLISHER: Grand View Research | PRODUCT CODE: 1404708
PUBLISHER: Grand View Research | PRODUCT CODE: 1404708
Lactic Acid Market Size, Share & Trends Analysis Report By Raw Material (Sugarcane, Corn, Cassava), By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid), By Region, And Segment Forecasts, 2024 - 2030
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Lactic Acid Market Growth & Trends:
The global lactic acid market is estimated to reach USD 5.80 billion by 2030 and is anticipated to expand at a CAGR of 8.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growth can be attributed to increasing demand for this product in various end-use industries, including industrial, food & beverages, and pharmaceuticals, especially in emerging economies such as India, China, and Indonesia. Additionally, demand for this product as a feedstock in the production of polylactic acid (PLA) is anticipated to drive the market globally.
Various raw materials used for the production of lactic acid include carbohydrates such as corn, sugarcane, sugar beet, and tapioca. Large share of this product produced globally is obtained through the fermentation process owing to its lower production costs as well as rising consumer awareness regarding sustainable and environmentally friendly products. The production process is commercially mature with a significant number of manufacturers including Corbion, NatureWorks LLC, Galactic, and Henan Jindan Lactic Acid Technology Co., Ltd using it.
The raw materials used for the commercial synthesis of this product include maltose or starch, lactose, sucrose, and glucose. These raw materials are derived from various feedstock such as barley malt, whey, molasses, and beet sugar, which are used to produce lactic acid via microbial fermentation. The cost of raw material is a key factor to be considered in the fermentation process for the commercial production of this product. They may specifically cater to application areas such as industrial, food & beverage, pharmaceuticals, personal care, chemicals, and agrochemical products.
Polylactic acid is predominantly used to manufacture microwaveable containers, including disposable cutlery and food containers. Multiple beneficial properties, such as improved aesthetic appeal, and resistance to grease & oil, among others, is positively influencing the demand for polylactic acid in the formulation of food packaging products across the globe, further triggering the lactic acid demand.
Lactic Acid Market Report Highlights:
- In 2023, sugarcane emerged as dominant raw material segment by contributing over 38.8% revenue share, owing to abundant availability in nature, low cost, and environmentally friendly alternative
- PLA is witnessed to constitute a significant application share in the market, owing to the rising usage in the manufacturing of biodegradable & biocompatible products
- North America dominated the lactic acid industry and accounted for the largest revenue share of more than 45.2% in 2023 due to the presence of major personal care & cosmetic industry in this region specifically in the U.S.
Product Code: 978-1-68038-126-9
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market segmentation & scope
- 1.2. Information procurement
- 1.2.1. Purchased database
- 1.2.2. GVR's internal database
- 1.2.3. Secondary sources
- 1.2.4. Third-party perspectives
- 1.2.5. Primary research
- 1.2.6. Primary Sources
- 1.3. Information analysis
- 1.3.1. Data analysis models
- 1.4. Research Scope and Assumptions
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Lactic Acid Market: Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Global organic acids market outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.3.1. Raw Material Trends
- 3.3.2. Manufacturing Trends
- 3.4. Technology Outlook
- 3.4.1. Fermentation
- 3.5. Regulatory Framework
- 3.5.1. U.S. FDA
- 3.5.2. EU COMMISION
- 3.5.3. Asia Pacific Regulatory Framework
- 3.5.3.1. China
- 3.5.3.2. India
- 3.5.3.3. Japan
- 3.5.3.4. Philippines
- 3.5.3.5. Australia & New Zealand
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.1.1. Growing Personal care sector
- 3.6.1.2. Growth in Pharmaceutical industry
- 3.6.2. Market Restraint Analysis
- 3.6.2.1. Volatile raw material prices
- 3.6.3. Key opportunities prioritized
- 3.6.3.1. Market Opportunity Assessment Analysis
- 3.6.3.2. Industry Analysis - Porter's
- 3.6.3.3. PESTLE Analysis
- 3.6.1. Market Driver Analysis
Chapter 4. Lactic Acid Market: Raw material Estimates & Trend Analysis
- 4.1. Raw material movement analysis & market share, 2023 & 2030 (Kilotons) (USD Million)
- 4.2. Lactic Acid market size & forecasts and trend analysis, by raw material, 2018 - 2030 (Kilotons) (USD Million)
- 4.3. Corn
- 4.4. Sugarcane
- 4.5. Cassava
- 4.6. Other crops
Chapter 5. Lactic Acid Market: End-use Estimates & Trend Analysis
- 5.1. End-use movement analysis & market share, 2023 & 2030 (Kilotons) (USD Million)
- 5.2. Lactic Acid market size & forecasts and trend analysis, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 5.3. Food & Beverages
- 5.4. Industrial
- 5.5. Pharmaceutical
- 5.6. PLA
- 5.7. Others
Chapter 6. Lactic Acid Market: Regional Outlook
- 6.1. Lactic acid Market, By Region, 2019 & 2027
- 6.2. Lactic Acid market size & forecasts and trend analysis, by region, 2018 - 2030 (Kilotons) (USD Million)
- 6.3. North America
- 6.3.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.3.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.3.3. U.S.
- 6.3.3.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.3.3.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.3.4. Canada
- 6.3.4.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.3.4.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.3.5. Mexico
- 6.3.5.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.3.5.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.4. Europe
- 6.4.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.4.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.4.3. Germany
- 6.4.3.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.4.3.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.4.4. U.K.
- 6.4.4.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.4.5. France
- 6.4.5.1. Market estimates and forecasts by raw material, 2018 - 2030 (USD Million)
- 6.4.6. Italy
- 6.4.6.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.4.6.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.4.7. The Netherlands
- 6.4.7.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.4.7.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.5. Asia Pacific
- 6.5.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.5.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.5.3. China
- 6.5.3.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.5.3.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.5.4. India
- 6.5.4.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.5.4.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.5.5. Japan
- 6.5.5.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.5.5.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.5.6. Indonesia
- 6.5.6.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.5.6.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.5.7. Malaysia
- 6.5.7.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.5.7.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.5.8. Philippines
- 6.5.8.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.5.8.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.6. Central & South America
- 6.6.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.6.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.6.3. Brazil
- 6.6.3.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.6.3.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
- 6.7. MEA
- 6.7.1. Market estimates and forecasts by raw material, 2018 - 2030 (Kilotons)
- 6.7.2. Market estimates and forecasts by application, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Vendor Landscape
- 7.2. Competitive Market Environment
- 7.3. Company Market Positioning
- 7.4. Strategy Framework
- 7.4.1. List of Key Strategies By Company
Chapter 8. Company Profiles
- 8.1. Futerro
- 8.1.1. Company overview
- 8.1.2. Product benchmarking
- 8.1.3. Strategic Initiatives
- 8.2. BASF SE
- 8.2.1. Company overview
- 8.2.2. Financial performance
- 8.2.3. Product benchmarking
- 8.3. Galactic
- 8.3.1. Company overview
- 8.3.2. Product benchmarking
- 8.3.3. Strategic Initiatives
- 8.4. Henan Jindan Lactic Acid Technology Co. Ltd.
- 8.4.1. Company overview
- 8.4.2. Financial performance
- 8.4.3. Product benchmarking
- 8.4.4. Recent developments
- 8.5. Lattice Semiconductor Corporation
- 8.5.1. Company overview
- 8.5.2. Product benchmarking
- 8.6. Corbion
- 8.6.1. Company overview
- 8.6.2. Financial performance
- 8.6.3. Product benchmarking
- 8.6.4. Recent developments
- 8.7. thyssenkrupp AG
- 8.7.1. Company overview
- 8.7.2. Financial performance
- 8.7.3. Product benchmarking
- 8.8. Dow
- 8.8.1. Company overview
- 8.8.2. Financial performance
- 8.8.3. Product benchmarking
- 8.9. Cellulac
- 8.9.1. Company overview
- 8.9.2. Product benchmarking
- 8.10. Jungbunzlauer Suisse AG
- 8.10.1. Company overview
- 8.10.2. Product benchmarking
- 8.11. Vaishnavi Bio Tech
- 8.11.1. Company overview
- 8.11.2. Product benchmarking
- 8.12. TEIJIN LIMITED
- 8.12.1. Company overview
- 8.12.2. Financial Performance
- 8.12.3. Product benchmarking
- 8.13. Danimer Scientific
- 8.13.1. Company overview
- 8.13.2. Product benchmarking
- 8.14. NatureWorls LLC
- 8.14.1. Company overview
- 8.14.2. Product benchmarking
Product Code: 978-1-68038-126-9
List of Tables
- Table 1 Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 2 Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 3 Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 4 Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 5 Lactic acid market volume estimates & forecasts, by region, 2018 - 2030 (Kilotons)
- Table 6 Lactic acid market revenue estimates & forecasts, by region, 2018 - 2030 (USD Million)
- Table 7 North America Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 8 North America Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 9 North America Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 10 North America Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 11 U.S. Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 12 U.S. Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 13 U.S. Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 14 U.S. Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 15 Canada Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 16 Canada Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 17 Canada Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 18 Canada Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 19 Mexico Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 20 Mexico Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 21 Mexico Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 22 Mexico Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 23 Europe Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 24 Europe Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 25 Europe Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 26 Europe Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 27 Germany Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 28 Germany Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 29 Germany Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 30 Germany Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 31 U.K. Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 32 U.K. Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 33 U.K. Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 34 U.K. Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 35 France Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 36 France Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 37 France Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 38 France Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 39 Italy Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 40 Italy Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 41 Italy Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 42 Italy Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 43 Netherlands Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 44 Netherlands Latic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 45 Netherlands Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 46 Netherlands Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 47 Asia Pacific Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 48 Asia Pacific Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 49 Asia Pacific Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 50 Asia Pacific Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 51 China Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 52 China Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 53 China Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 54 China Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 55 India Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 56 India Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 57 India Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 58 India Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 59 Japan Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 60 Japan Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 61 Japan Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 62 Japan Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 63 Indonesia Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 64 Indonesia Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 65 Indonesia Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 66 Indonesia Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 67 Malaysia Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 68 Malaysia Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 69 Malaysia Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 70 Malaysia Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 71 Philippines Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 72 Philippines Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 73 Philippines Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 74 Philippines Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 75 Central & South America Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 76 Central & South America Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 77 Central & South America Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 78 Central & South America Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 79 Brazil Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 80 Brazil Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 81 Brazil Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 82 Brazil Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 83 Middle East & Africa Lactic acid market volume estimates & forecasts, by raw material, 2018 - 2030 (Kilotons)
- Table 84 Middle East & Africa Lactic acid market revenue estimates & forecasts, by raw material, 2018 - 2030 (USD Million)
- Table 85 Middle East & Africa Lactic acid market volume estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 86 Middle East & Africa Lactic acid market revenue estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 Lactic Acid Market Segmentation & Scope
- Fig. 2 Information Procurement
- Fig. 3 Primary Research Pattern
- Fig. 4 Primary research process
- Fig. 5 Lactic Acid Market Snapshot
- Fig. 6 Lactic Acid market revenue, (USD Million), 2023
- Fig. 7 Lactic acid market volume and revenue, (2018 - 2030) (Kilotons) (USD Million)
- Fig. 8 Lactic Acid Market: Value chain analysis
- Fig. 9 Market dynamics
- Fig. 10 Global cosmetic products market revenue, 2017 to 2025 (USD Billion)
- Fig. 11 Skin care products market revenue, 2016 to 2025 (USD Billion)
- Fig. 12 Worldwide total pharmaceutical R&D spending, (2015 - 2022) (USD Billion)
- Fig. 13 PORTER'S Analysis
- Fig. 14 PESTEL Analysis
- Fig. 15 Lactic Acid market revenue share, by raw material, 2023 & 2030 (USD Million)
- Fig. 16 Lactic Acid market revenue share, by end-use, 2023 & 2030 (USD Million)
- Fig. 17 Lactic Acid revenue market revenue share, by region, 2023 & 2030 (USD Million)
- Fig. 18 Competitive Market Environment
- Fig. 19 Company Market Positioning
- Fig. 20 Strategy Framework
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